91Ô­´´

Toronto overtakes 91Ô­´´ despite benchmark prices hitting record high: RBC

Victoria city councillors voted unanimously Thursday to move the project forward to a public ­hearing.

The benchmark value for a single-family house in the core — Victoria, Saanich, Oak Bay, Esquimalt and View Royal — hit a high of $1.161 million last month, up from $932,200 in January 2021, says the Victoria Real Estate Board.

Data available in new non-metropolitan online housing information portal

Royal Beach will be a collection of neighbourhoods totalling 2,850 single-family houses, townhomes and condominiums ranging from six to 12 storeys. Hundreds of jobs are also expected to be created in commercial buildings and retail spaces.

Co-living setups typically appeal to people new to the area who are interested in expanding their social circle — combating the "urban loneliness that we’re seeing in so many cities," the developer says.

Builders looking for ways to reduce obstacles

Smaller communities such as Port Alberni saw increases jump by as much as 47 per cent.

Inventory levels ended the year with just 652 active listings for sale by the end of December, the lowest inventory seen in the last 25 years